China Oceanwide Holdings Ltd. raised net proceeds of about HK$587.5 million from the issuance of HK$600.0 million of 6.0% convertible notes, priced at 100% of the principal amount.
The notes, due Dec. 27, 2023, are convertible to shares at a price of 71 cents per share, subject to adjustments.
Listing of the conversion shares has been approved by the Hong Kong Stock Exchange, according to a release.
The Hong Kong-based conglomerate plans to use the net proceeds for refinancing and general corporate purposes.
Haitong International and China Tonghai Securities (formerly known as Oceanwide Securities) are the joint global coordinators, joint book runners and joint lead managers of the offering.